Category Archives: Penn National

Silly in Philly; Dinosaurs in Macao; New York’s choice

Posted on July 31, 2013 by David McKee

From the silly file. There’s no reason that any Joe Blow can’t apply for a casino license in Philadelphia. But I get a kick out of fruit-and-vegetable mogul Joseph “Tomato King” Procacci thinking he can actually outdo the likes of … Continue reading →

Posted in Animals, Election, Isle of Capri, Macau, New York, Penn National, Pennsylvania, Problem gambling, Regulation, Stanley Ho, Steve Wynn, Taxes | Comments Off

One Angry Man; MGM expansion bodes well

Posted on July 25, 2013 by David McKee

Y’know, if I was reporting a 120% profit increase in 2Q13, I might stop and enjoy the moment. I certainly wouldn’t choose that moment to be a dick. Obviously, I am not Sheldon Adelson. Proffering evidence that his second infancy … Continue reading →

Posted in Current, Economy, Harrah's, International, Macau, Maryland, Massachusetts, MGM Mirage, Penn National, Sheldon Adelson, Steve Wynn, Tourism, Wall Street | 1 Comment

Massachusetts: Penn’s back in; New market for Adelson?

Posted on July 19, 2013 by David McKee

When the city of Springfield finally stopped fence-sitting and decided against going with Penn National Gaming, I knew it was only a matter of time before Penn emerged somewhere else in Massachusetts. Boy, has it ever. Operating with speed and … Continue reading →

Posted in Cordish Co., Current, Environment, Hard Rock International, International, Lake Tahoe, Massachusetts, Neil Bluhm, Penn National, Politics, Racinos, Regulation, Sheldon Adelson, Steve Wynn, Taxes, Tropicana Entertainment | Comments Off

Hail, Caesars; Some roads lead to Foxwoods; Bluhm disappoints

Posted on July 18, 2013 by David McKee

It’s not every day that Caesars Entertainment CEO Gary Loveman has a good idea. But when he does, it’s a real brainwave. Such has proven to be the case with Caesars’ purchase of social-gaming Web firm Playtika. The latter has … Continue reading →

Posted in Hard Rock International, Harrah's, IGT, Illinois, Internet gambling, Macau, Maryland, Massachusetts, MGM Mirage, Neil Bluhm, Pansy Ho, Penn National, Pennsylvania, Politics, Regulation, Stanley Ho, Station Casinos, Taxes, The Mob, Transportation, Tribal | Comments Off

Barton delivers; Penn takes the initiative

Posted on July 12, 2013 by David McKee

It was a somewhat mixed victory for the casino industry. Rep. Joe Barton (R-TX, left) revived a 2012 initiative, in the form of his Internet Poker Freedom Act, legislation that he’s been promising for a couple of election cycles now. … Continue reading →

Posted in Architecture, Current, Internet gambling, Isle of Capri, Louisiana, Maryland, Massachusetts, Penn National, Pennsylvania, Politics, Regulation, Station Casinos, Steve Wynn, Taxes, The Strip | 1 Comment

Massachusetts: Bluhm, Penn pounce; Galaxy gets bounced

Posted on July 12, 2013 by David McKee

From the You Read It Here First file, yes, it’s indeed true that Neil Bluhm‘s Rush Street Gaming is descending upon the town of Millbury as its next prospective site for a slot parlor. Bluhm surrogate Greg Carlin says the … Continue reading →

Posted in California, Cordish Co., Current, Harrah's, Massachusetts, Neil Bluhm, New Hampshire, Penn National, Racinos, Regulation, Technology, The Strip, Tribal | 1 Comment

Missouri misery; Revel inches upward

Posted on July 10, 2013 by David McKee

Sometimes I feel Gary Loveman‘s pain — and that of Anthony Sanfilippo, Virginia McDowell, Peter Carlino … When they look at the kind of numbers states like Missouri are generating, they must want to shake a fist and say, “Gamble, … Continue reading →

Posted in Ameristar, Atlantic City, Boyd Gaming, Colony Capital, Current, Donald Trump, Economy, Harrah's, Illinois, Isle of Capri, MGM Mirage, Missouri, Ohio, Penn National, Pinnacle Entertainment, Revel, Steve Wynn, Wall Street | 3 Comments

Indiana: Half-full or half-empty?; ‘Priscilla’ faints

Posted on July 9, 2013 by David McKee

That’s the operative question after a contrariwise June in Indiana. The state’s casinos saw 17% less foot traffic, but those fewer players were spending more (up 6%). Even so, the Hoosier State’s racinos, casinos and riverboats were down 12% for … Continue reading →

Posted in Architecture, Cordish Co., Current, Dining, Economy, Entertainment, Harrah's, MGM Mirage, Penn National, Pinnacle Entertainment, Racinos, Sheldon Adelson, The Strip, Wall Street | 2 Comments

Gold strike in Maryland; Ghost train; ‘Sell’ order on Sands; Wynn cleared

Posted on July 8, 2013 by David McKee

That elastic band which is American consumers’ gambling budget may have tightened in Illinois and gone slack in Ohio, but it’s expanding nicely in Maryland, now that table games are part of the mix. Sayeth the Maryland Lottery, revenues for … Continue reading →

Posted in California, Cordish Co., Current, Economy, Macau, Maryland, Massachusetts, North Las Vegas, Penn National, Pennsylvania, Sheldon Adelson, Steve Wynn, Tourism, Transportation, Wall Street | Comments Off

Revel gets forgiveness; Illinois gets hammered

Posted on July 8, 2013 by David McKee

You’ve heard about the “Gamblers Wanted” marketing campaign at Revel that refunds slot refunds over $100 — if you’re a member of the players’ club. There’s another catch: You don’t get a cash refund but additional free play, doled forth … Continue reading →

Posted in Atlantic City, Current, Donald Trump, Economy, Harrah's, Illinois, Marketing, MGM Mirage, Missouri, Neil Bluhm, Ohio, Penn National, Politics, Revel, Slot routes | 1 Comment

Buyer’s market on the Boardwalk

Posted on July 3, 2013 by David McKee

An East Coast spy for S&G has had his ear to the ground and reports that a veritable horde of prospective purchaser are descending upon Atlantic City. Casino prices having fallen about as low as they can go, “buy” appears … Continue reading →

Posted in Ameristar, Atlantic City, Colony Capital, Current, Economy, Louisiana, Missouri, Neil Bluhm, Penn National, Pennsylvania, Pinnacle Entertainment, Revel | 1 Comment

SkyVue kaput?; Wowing them in Massachusetts

Posted on July 3, 2013 by David McKee

That’s the unavoidable conclusion, despite the increasingly comical protestations of local developer Howard Bulloch‘s sidekicks. Caesars Entertainment‘s rival Ferris wheel may be in a terrible location, it may be progressing slowly but — but — it is progressing. SkyVue has … Continue reading →

Posted in Architecture, Current, Economy, Genting, Harrah's, Massachusetts, MGM Mirage, Penn National, Politics, Regulation, Steve Wynn, The Strip, Tourism, Tribal, Wall Street | 2 Comments

Shifting Sands; Happy birthday, Hollywood Aurora

Posted on June 25, 2013 by David McKee

(Update: J.P. Morgan analyst Joseph Greff vented frustration to investors over yet another “self-inflicted negative headline,” while remaining upbeat on LVS stock. He did not relate Kay’s departure to “any negative event … We note that Mr. Kay worked for … Continue reading →

Posted in Current, Economy, Harrah's, Illinois, Macau, MGM Mirage, Penn National, Sheldon Adelson, Steve Wynn | 1 Comment

Ohio: A disappointment, not a flop

Posted on June 18, 2013 by David McKee

Editor’s note: On June 20, J.P. Morgan lowered its price-per-share target for Penn National Gaming, citing “the sluggish Ohio ramp,” along with cannibalization of business in neighboring states. On May 22, legislators in Ohio voted to limit payouts from “sweepstakes … Continue reading →

Posted in Dan Gilbert, Economy, Harrah's, Internet gambling, Massachusetts, MTR Gaming, New Hampshire, Ohio, Penn National, Pennsylvania, Politics, Racinos, Regulation, Rhode Island, Tribal, Wall Street | Comments Off

Delaware casinos offered bailout; Wynn making gains in Massachusetts

Posted on June 18, 2013 by David McKee

State governments like casinos because they fill the capitol’s coffers with revenue. At least that’s what they’re supposed to do. But something’s gone very wrong in Delaware. Gov. Jack Markell‘s administration — having an extra $50 million on hand — … Continue reading →

Posted in Harrah's, Massachusetts, Neil Bluhm, Penn National, Politics, Steve Wynn, Taxes, Tribal | Comments Off

Pinnacle folds; Kansas City rebounds

Posted on June 17, 2013 by David McKee

Wow. I am stunned. Despite defiant proclamations that he would fight the Federal Trade Commission in court, Pinnacle Entertainment CEO Anthony Sanfilippo capitulated in swift order. This morning, J.P. Morgan reported that Pinnacle had reached an agreement in principle to … Continue reading →

Posted in Ameristar, Current, Harrah's, Isle of Capri, Louisiana, Missouri, Penn National, Pinnacle Entertainment, Regulation | 2 Comments

Penn: Start making sense!; Casinos clean up in Lege

Posted on June 4, 2013 by David McKee

Casinos in Ohio have not been living up to revenue expectations. Given such a fallow market, what has Penn National Gaming decided to do? Break ground on two racinos, of course! One is in the Dayton area, the other — … Continue reading →

Posted in Boyd Gaming, Current, Dan Gilbert, Economy, Harrah's, Internet gambling, Macau, MGM Mirage, MTR Gaming, Neil Bluhm, Ohio, Penn National, Politics, Racinos, Sheldon Adelson, Slot routes, Stanley Ho, Station Casinos, World Series of Poker | 1 Comment

Illinois: Not so fast!; Adelson pursues world domination

Posted on May 30, 2013 by David McKee

It really looked like the fix was in, the deal was done and existing casino operators in Illinois were about to thrown to the slaughter by legislators hungry for licensing fees. But the wheels of the grand plan are coming … Continue reading →

Posted in Current, Election, Illinois, International, Macau, Neil Bluhm, Penn National, Politics, Regulation, Sheldon Adelson, Slot routes, Taxes, The Strip, Tourism, Wall Street | 1 Comment

Pinnacle: The cost of the deal

Posted on May 30, 2013 by David McKee

Pinnacle Entertainment finds itself in an interesting pickle today: It’s awfully far into its Federal Trade Commission-blocked purchase of Ameristar Casinos to blow it up by, say, selling three or more Ameristar properties or otherwise triggering a fallout. And if … Continue reading →

Posted in Ameristar, CityCenter, Current, Harrah's, Internet gambling, Louisiana, Macau, Melco Crown Entertainment, MGM Mirage, Missouri, Penn National, Regulation, Sheldon Adelson, Vdara Death Ray, Wall Street, World Series of Poker | Comments Off

Feds balk at Pinnacle/Ameristar deal

Posted on May 29, 2013 by David McKee

Given the supine attitude toward mergers and acquisitions that has prevailed in Washington, D.C., for the past 15 years and the routine, state-by-state approval of Pinnacle Entertainment‘s takeover of Ameristar Casinos, I had erroneously thought it a done deal. Not … Continue reading →

Posted in Cosmopolitan, Current, Economy, Harrah's, Illinois, Isle of Capri, Louisiana, MGM Mirage, Missouri, Penn National, Pinnacle Entertainment, Regulation, The Strip, Tourism, Wall Street | 2 Comments